Tuesday, March 31, 2009

Interesting Yen commentary

Getting down triangles issued all over the place against the YEN. And now this:

15:36 03/31 JAPAN: (correct) The BOJ's quarterly Tankan survey of business sentiment is set for release Wednesday. The Tankan results may be grim enough to prompt BOJ policymakers to lower their growth forecasts and reassess their standard scenario that Japan's economy will begin to recover in the latter half of fiscal 2009. The benchmark diffusion index by major manufacturers is expected to have worsened to -52 in March from -24 at the December Tankan survey, down for the 5th consecutive survey, according to the average forecast by economists polled. Such a result would put the index near the record low of -57 hit in May 1975. A MNI insight story Monday said some BOJ board members were worried about a "Tankan shock," i.e. the possibility that the finders will be so bad as to speak a sell-off in the Tokyo stock market and seriously hurt assets at many commercial banks.

So, I am buying separate Lots of Euro/Yen and US/Yen here...markets closed decently.

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